The 2024 Hong Kong Web3 Blockchain Week was held at the Hong Kong Convention and Exhibition Center from April 6 to 9. It has ended, but the Hong Kong sector's coins are like a pool of stagnant water, especially CFX, which not only did not rise, but also fell badly. So reflect on it, are the expectations all hyped in advance? Before the big drop, CFX once rushed to a high of 0.55. Is it a good news released in advance? How should we deal with future hot spots including sectors?
Bitcoin Ecosystem
Although the inscription has died down, the Bitcoin ecosystem is still mentioned by many people. From a macro perspective, everyone generally agrees that the halving is imminent, ETF funds are flowing in, miners are pushing for profit, retail investors are chasing narratives, and some institutions are entering the market. There are many favorable conditions. However, there is still too much noise in the Bitcoin ecosystem. There are countless L2s. The life cycle of many so-called infrastructure projects is comparable to that of ordinary applications, and the technical route is neither mature nor has a consensus. The current competition for L2 is also mainly focused on applications and TVL. It is unclear when Bitvm will be available.
At present, the upcoming runes may be worth looking forward to, and L2 infrastructure will gradually produce some legit projects, and there are also some old projects that are worth paying attention to.
The application side is still very early
I saw more than one person miss Stepn when it was popular. At present, I have not seen any application that can reproduce this glory. . One problem on the application side is that it is difficult for institutions to establish clear value judgments on the vast number of applications, and the life cycle of applications is generally much shorter than that of public chains. When institutions unlock many investments, they will definitely lose money. This leads to obvious grouping and dilemma on the application side. Institutions only want to invest in "top-tier" projects, and application projects without institutional endorsement are also difficult to obtain early traffic and trust in the market.
This also shows that the application side is still in its early stages and has huge opportunities, especially on the basis of the public chain platform to promote its own ecology. For retail investors, they should pay special attention to early application products, which are good opportunities for high odds returns.
Market hot spots are dispersed and rotated
At this time last year, the Ordinals conference was still very niche, but six months later it has become the most dazzling wealth-making myth in the field. Looking back at some of the previous investment/project rising stars, they have now disappeared in the long river of time where "one day in the world is one year in the cryptocurrency world." It is very important and necessary for institutions/project parties/retail investors to always be sensitive and open to the market, keep learning about new hot spots, and overcome prejudice and arrogance. Another feature is that the current hot spots and narratives are still relatively scattered, with this today and that tomorrow, and there has not yet been a narrative as grand as Defi/NFT in the past. (AI may be an opportunity)
Most existing projects will strive to go online this year
If the team is not ready to quietly build another round of bull and bear markets, then it is the best choice for most teams to go online this year. From April to the second half of the year, it is expected that a large number of projects will issue tokens, and the good and the bad will be mixed, which will help push this market to a climax. For retail investors, they should invest more prudently, otherwise there will be more opportunities to lose money; for project parties, it also means that whether they want to get support from the market or the exchange listing level, they need to compete very fiercely.
There are thousands of ways to make money, seize the opportunity of institutional long-term bull market
Finally, let's talk about something practical. Recently, there are too many myths about people getting rich quickly and retiring, which also shows that this is still the best and most promising industry. There are too many ways to make money in this industry, such as investing, doing projects, and creating memes. But no matter which method you use, you must do a good job of research, be deep enough, be immersed enough, and be open enough. Otherwise, you will be commanding on the shore, and everyone else will be drunk and you will be the only one awake. In the end, you can only gain wisdom while others gain wealth. Many people may underestimate the influence of ETFs on the market. In addition to the new high of Bitcoin, there will definitely be more surprises in this round of institutional bull market.
Later, I will bring you analysis of leading projects in other tracks. If you are interested, you can click to follow. I will also organize some cutting-edge consulting and project reviews from time to time. Welcome all like-minded people in the cryptocurrency circle to explore together. If you have any questions, you can comment or send a private message
